01b5efdd81
- Source: inbox/archive/2026-03-03-futardio-launch-open-music.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 4) Pentagon-Agent: Rio <HEADLESS>
39 lines
1.5 KiB
Markdown
39 lines
1.5 KiB
Markdown
---
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type: entity
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entity_type: company
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name: "Open Music"
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domain: internet-finance
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status: failed
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founded: 2025
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platform: "Solana"
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website: "https://openmusic.art"
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twitter: "https://x.com/openmusic_art"
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tracked_by: rio
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created: 2026-03-11
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key_metrics:
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raise_target: "$250,000"
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total_committed: "$27,533"
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raise_status: "refunding"
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launch_date: "2026-03-03"
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close_date: "2026-03-04"
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oversubscription_ratio: 0.11
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platform_fee: "10%"
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monthly_burn: "$25,000"
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planned_runway: "10 months"
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---
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# Open Music
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Artist-first music streaming platform built on Solana that replaces Spotify's pro-rata pool model with direct listener-to-artist payments. Raised through [[futardio]] futarchy-governed launch but failed to meet funding target and refunded backers.
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## Overview
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Open Music proposed a streaming model where each subscriber's payment goes only to artists they personally listened to that month, rather than being pooled globally. Platform takes 10% versus Spotify's ~30%, with payouts in USD wallet + USDC. Featured AI-powered sonic similarity discovery to replace label-budget-driven promotion. Two full-stack developers with plans to hire a third.
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## Timeline
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- **2026-03-03** — [[open-music-futardio-fundraise]] launched on Futardio seeking $250K
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- **2026-03-04** — Fundraise closed with $27,533 committed (11% of target), status: refunding
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## Relationship to KB
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- [[futardio]] — launch platform
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- Example of futarchy-governed fundraise that failed to meet market validation threshold
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